Morrisons attracts more shoppers as profits rise
Published:  12 March, 2009

Morrisons is attracting an average of 550,000 customers each week compared to the last financial year, helping it to increase its annual profits by 7% to £655 million before tax.

Morrisons is attracting an average of 550,000 extra customers each week compared to the last financial year, helping it to increase its annual profits by 7% to £655 million before tax.

The Bradford-based supermarket group did not single out its BWS performance in its analysis of the year to Feb 1, but the latest data from research group TNS Worldpanel showed the chain increased its share of the grocery market from 11.6% to 11.8% in the 12 weeks to Feb 22.

Staff will share a £34 million bonus pot, 13% higher than last year, as a result of the improved company performance.

Morrisons has plans for an extra 350,000 square feet of new retail space on top of the 500,000 square feet it is already acquiring from the Co-operative Group.

Chairman Sir Ian Gibson said: "These are challenging times for the UK economy, but whilst we are not complacent, we are confident that Morrisons' offer meets and is in tune with the demands of our customers and the economic background.




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